HSBC’s CD Rate Promotion
Posted by Best Bank Rates under [ CD Rates ] on March 22, 20072 Comments
HSBC is currently offering an 6.00% APY CD rate through April 30. This is clearly just an attempt to bring in new customers, as 42 days of 6.0% with $10,000 translates to approximately $70, or a 0.0069% return. In addition, this 6.0% only applys to any “new” money that you deposit, and if you were an existing customer before your money is subject to the old 5.05%.
Despite this, HSBC is a fairly reputable bank, with actual local banks in many locations, something most online banks lack. Their signup process is a little long and tedious, I suppose it’s all in the name of better security. HSBC’s rates has always been among the best CD rates offered, online or otherwise.
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2 Comments on “HSBC’s CD Rate Promotion”
Hsbc has an online form that you use to sign up for a choice of CD’s. You check off the length and the rate as part of the form. The funds I used were from an existing online account through them. Just to make sure the rate was secure even though the form listed it I call twice with various questions and was assured that the rate was what I checked off on the form. The next day I checked and they had given me a lower rate and could really care less. Two weaks later and three long phone conversation with a few people half way around the world and still no call back. What a joke and very decieving. My account is pretty darn big too. Cant believe it!!!!!!! Dont get involve. Even my online savings had some issues.